1 / 10

Voluntary Benefits

Voluntary Benefits. Rounding out your benefit package!. What are voluntary benefits?. Voluntary benefits have these characteristics: You can pay through payroll deduction Some Pre-tax and some After-tax deductions Group discounts Convertible to personal policies

ayasha
Télécharger la présentation

Voluntary Benefits

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Voluntary Benefits Rounding out your benefit package! 1

  2. What are voluntary benefits? Voluntary benefits have these characteristics: • You can pay through payroll deduction • Some Pre-tax and some After-tax deductions • Group discounts • Convertible to personal policies • Helps you insure against some hidden pitfalls

  3. What are the voluntary benefits? Available are: • Three different home & auto plans • Vision insurance • Short Term Disability (STD) insurance • Accident Insurance • 529 Next Gen College savings plan • Long Term Care Insurance

  4. Home & Auto companies You have three Home & Auto companies to choose from. Many experts suggest going “out for bid” every 5 years or so. Also, these companies might have additional lines of coverage to consider such as • Umbrella policy • Renter’s insurance • Snowmobile coverage • Personal liability, etc.

  5. Home & Auto companies MetLife 1-800-GET-MET8, 1-800-438-6388 Liberty Mutual Ron Morin, ronald.morin@libertymutual.com 1-800-586-9035 x50002 Northeast Bank Betsy Sibley, bsibley@northeastbank.com 1-207-786-0417 x3442

  6. Vision Insurance • Available through EBM, 1-888-269-2744 • Uses the www.vsp.com network, toll free number of 1-800-877-7195 • Pre-tax contributions • Benefits include: • $20 co-pay for annual eye exam • $150 allowance for lenses and frames in-network with a $10 co-pay OR $150 allowance for contact lenses with no co-pay (every 24 months)

  7. Short Term Disability (STD) • Available through EBM, 1-888-269-2744 • Claims processed by Dearborn National • Pre-existing conditions excluded during first 12 months of coverage • Two week waiting period • Maternity is treated as an illness • CT and ESB may be used to supplement STD income (can’t exceed 100% of your normal pay) • Covers up to70% of your income up to $3000/week

  8. Accident Insurance • Available through EBM, 1-888-269-2744 • Pays benefits directly to you for off-the-job accidents • Pays in addition to any other insurance you have • Portable upon termination of employment at the same rate

  9. 529 College Savings Plan • Part of Maine’s NextGen College savings • Invest after-tax money to build accounts to pay for educational expenses • You can designate yourself, child or grandchild as “owner” of the funds • For more information, contact Art Chamberlain (207) 514-7003 arthur.r.chamberlain@wmarep.org

  10. Long Term Care Insurance • Purchase LTC Insurance with group rates • More information may be obtained from Todd Grove, LTCP, CLTC LTC Financial Planners 72 Pine Street Portland, ME 04102 (207) 772-5793 www.ToddGrove.com todd.grove@ltcfp.net

More Related